Walt Disney (NYSE:DIS) Updates FY24 Earnings Guidance

Walt Disney (NYSE:DIS) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of ~$4.70 for the period, compared to the consensus earnings per share estimate of $4.71.

Walt Disney Price Performance

Walt Disney stock traded up $0.07 during midday trading on Wednesday, reaching $105.46. 15,221,881 shares of the stock were exchanged, compared to its average volume of 12,100,998. The firm has a market cap of $193.45 billion, a PE ratio of 65.10, a PEG ratio of 1.39 and a beta of 1.40. Walt Disney has a 52 week low of $78.73 and a 52 week high of $123.74. The company’s fifty day moving average is $114.59 and its 200-day moving average is $101.21. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.84.

Walt Disney (NYSE:DIS) last issued its quarterly earnings data on Tuesday, May 7th. The entertainment giant reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. The firm had revenue of $22.08 billion during the quarter, compared to the consensus estimate of $22.12 billion. Walt Disney had a net margin of 3.36% and a return on equity of 7.88%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.93 earnings per share. On average, sell-side analysts forecast that Walt Disney will post 4.7 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Evercore ISI dropped their price target on shares of Walt Disney from $130.00 to $128.00 and set an outperform rating on the stock in a research note on Wednesday. UBS Group reduced their price objective on shares of Walt Disney from $140.00 to $130.00 and set a buy rating on the stock in a research report on Wednesday. Needham & Company LLC reissued a buy rating and set a $145.00 target price on shares of Walt Disney in a research report on Tuesday. JPMorgan Chase & Co. initiated coverage on Walt Disney in a report on Thursday, April 11th. They issued an overweight rating and a $140.00 price target for the company. Finally, Morgan Stanley boosted their price objective on Walt Disney from $110.00 to $135.00 and gave the company an overweight rating in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, Walt Disney has an average rating of Moderate Buy and a consensus price target of $126.46.

Insider Buying and Selling

In other news, EVP Sonia L. Coleman sold 1,857 shares of Walt Disney stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $121.92, for a total transaction of $226,405.44. Following the completion of the transaction, the executive vice president now directly owns 4,400 shares in the company, valued at $536,448. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is owned by corporate insiders.

About Walt Disney

The Walt Disney Company operates as an entertainment company worldwide. It operates through three segments: Entertainment, Sports, and Experiences. The company produces and distributes film and television video streaming content under the ABC Television Network, Disney, Freeform, FX, Fox, National Geographic, and Star brand television channels, as well as ABC television stations and A+E television networks; and produces original content under the ABC Signature, Disney Branded Television, FX Productions, Lucasfilm, Marvel, National Geographic Studios, Pixar, Searchlight Pictures, Twentieth Century Studios, 20th Television, and Walt Disney Pictures banners.